This problem is a continuation of Problem 10-3 in Chapter 10 focusing on depreciation.
In P 10-3
The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2017:

Transactions during 2018 were as follows:
a. On January 2, 2018, machinery and equipment were purchased at a total invoice cost of $260,000, which included a $5,500 charge for freight. Installation costs of $27,000 were incurred.
b. On March 31, 2018, a small storage building was donated to the company. The person donating the building originally purchased it three years ago for $25,000. The fair value of the building on the day of the donation was $17,000.
c. On May 1, 2018, expenditures of $50,000 were made to repave parking lots at Pell's plant location. The work was necessitated by damage caused by severe winter weather.
d. On November 1, 2018, Pell acquired a tract of land with an existing building in exchange for 10,000 shares of Pell's common stock that had a market price of $38 per share. Pell paid legal fees and title insurance totaling $23,000. Shortly after acquisition, the building was razed at a cost of $35,000 in anticipation of new building construction in 2019.
e. On December 31, 2018, Pell purchased a small storage building by giving $15,250 cash and an old automobile purchased for $18,000 in 2014. Depreciation on the old automobile recorded through December 31, 2018, totaled $13,500. The fair value of the old automobile was $3,750.
For each asset classification, prepare a schedule showing depreciation for the year ended December 31, 2018, using the following depreciation methods and useful lives:
Land improvements-Straight line; 15 years
Building-150% declining balance; 20 years
Machinery and equipment-Straight line; 10 years
Automobiles-150% declining balance; 3 years
Depreciation is computed to the nearest month and no residual values are used.

Accumulated Depreciation Plant Asset Land Land improvements Building Machinery and equipment Automobiles $ 350,000 180,000 1,500,000 1,158,000 150,000 45,000 350,000 405,000 112,000